Plan Snapshot
- Plan Sponsor: Phaxis, LLC
- Sponsor EIN: 880608565
- Sponsor Address: 135 PINELAWN ROAD, MELVILLE, NY, 11747
- Plan Type: 401(k)
- Total Participants: 305
- Total Assets: $9.5M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: No
- Participant-Directed Investments: No
- ERISA Section 404(c) Fiduciary Safe Harbor: Yes
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 305 | $9.5M | $0 | $915,397 |
| 2023 | 441 | $8.1M | $0 | $851,202 |
| 2022 | 227 | $7.2M | $0 | $415,734 |
Service Providers (Schedule C)
Vendors paid $5,000 or more for services to the plan, ranked by total compensation (direct + indirect fees).
| Provider Name | Role | Direct Compensation | Indirect Compensation | Total Fees |
|---|---|---|---|---|
| BERMAN, SOSMAN & ROSENZWEIG, CPA'S | Auditor | — | — | $0 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $0
Historical Administrative Expenses
Breakdown of administrative expense categories reported on Form 5500 filings.
| Year | Total Admin Expenses | Investment Mgmt Fees | Contract Admin Fees | IQPA Audit Fees | Professional Fees |
|---|---|---|---|---|---|
| 2024 | $82,422 | — | — | — | — |
| 2023 | $61,457 | — | $13,925 | — | — |
| 2022 | $43,921 | — | — | — | $43,921 |